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Customised loans could pay for dream homes

Homebuyers will take out two loans in the future – one topay for the

property and oneto turn it into their dream home, according to new research

from the CML.

The research looks at challenges facing housebuilders. It concludes the UK

has been slow to adapt to the desire of homebuyers for more customised

homes.

Consumers&#39 needs and desires are changing. For example, the average house

is getting smaller yet people are demanding more living space.

The CML says the increasing tendency of people to work from home, the lack

of suitable land for buildingand the increase in capital flow are all

influencing the housing market.

CML deputy director general Peter Williams says: “Lenders could have a

role in developing a new range of different types of loans, perhaps with

separate finance for land, construction and the internal fitting out of new

homes.”

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